Joe Rogan Slams Crypto: Bitcoin and NFTs are “Fake Money”
Mustafa Mulla10 Oct 20242 min read
In a recent episode of The Joe Rogan Experience, Joe Rogan sparked an engaging conversation about Bitcoin and NFTs, expressing his doubts about these digital assets. Talking with his producer Jamie, Rogan called NFTs “fake money” and shared concerns about the risks of Bitcoin, reflecting the uncertainty many feel about investing in digital currencies.
Phew – these are some controversial views. Let’s unravel them.
Is Bitcoin a Risky Bet?
Rogan questioned Bitcoin’s role as a digital currency, noting that while it brought the idea of digital ownership, the hype around it could easily lead to risky investments.
Rogan began by pointing out a trend he’s noticed, some people seem to view crypto as an easy way to make money. He recounted a story of a friend who lost a substantial amount in cryptocurrency investments. This “get-rich-quick” appeal, Rogan argued, is what draws people in, making them invest real money into digital assets they don’t fully understand.
He explained his take on crypto as “fake money,” describing the investment as putting a lot of cash into what feels like “imaginary money.”
NFTs: Are You Really Owning Anything?
Further, in a podcast, Rogan says he finds the concept of digital ownership strange, especially high-priced digital assets like Bored Ape NFTs. He struggled to see how people would pay huge amounts for digital items that, to him, seem no more real than a screenshot.
Meanwhile, Jamie tried to explain NFTs to Rogan by likening them to ownership. According to Jamie, NFTs offer a form of digital ownership similar to owning a physical object, like a car. Even if someone takes a photo of your car, that doesn’t mean they own it.
Rogan, however, remained critical, noting that NFTs don’t carry the same physical value as real assets and questioning the “realness” of these digital items, especially given the price crashes of certain high-profile NFTs, like the Bored Ape Yacht Club.
Bitcoin Could Be the Next Big Thing!
Although Rogan expressed doubts, he admitted that Bitcoin might hold more value than NFTs. Rogan compared Bitcoin to the early Internet, noting that, much like the Internet faced government pushback, Bitcoin is beginning to gain recognition.
However, he remains cautious, especially about central bank digital currencies (CBDCs), which he worries could replace traditional money in a way that governments control entirely.
As Bitcoin and NFTs continue to spark debate, one thing is clear: the world of digital assets is only just beginning to challenge what we know about money and ownership.
